First Union Securitization Transactions, Inc.
Mortgage Pass-Through Certificates
Statements to Certificateholders
Record Date: 30-Sep-1996
Distribution Date: 25-Oct-1996
FURST Series 1996-1
Customer Service
Norwest Bank Minnesota, N.A.
Securities Administration Services
5325 Spectrum Drive
Frederick, MD 21703
Telephone:(301) 846-8130
Fax:(301) 846-8152
CERTIFICATE INFORMATION
Certificate Original Ending Ending
Pass-Through Face Certificate Certificate
Class CUSIP Rate Amount Balance Percentage
A-1 302668AA6 6.69000 68,008,000.00 65,050,054.12 0.95650591
A-2 302668AB4 6.97000 34,126,000.00 34,126,000.00 1.00000000
A-3 302668AC2 7.29000 26,157,000.00 26,157,000.00 1.00000000
A-4 302668AD0 7.60000 11,433,000.00 11,433,000.00 1.00000000
A-5 302668AE8 7.77000 17,535,000.00 17,535,000.00 1.00000000
B-IO FUR96000B 0.00000 0.00 0.00 0.00000000
R FUR96000R 0.00000 0.00 0.00 0.00000000
PRINCIPAL DISTRIBUTION
Scheduled Unscheduled
Principal Principal Deferred Realized Principal
Class Distribution Distribution Accretion Interest Loss (1) Distribution
A-1 287,333.52 1,405,205.61 0.00 0.00 0.00 1,692,539.13
A-2 0.00 0.00 0.00 0.00 0.00 0.00
A-3 0.00 0.00 0.00 0.00 0.00 0.00
A-4 0.00 0.00 0.00 0.00 0.00 0.00
A-5 0.00 0.00 0.00 0.00 0.00 0.00
B-IO 0.00 0.00 0.00 0.00 0.00 0.00
R 0.00 0.00 0.00 0.00 0.00 0.00
<FN>
(1) Amount Does Not Include Excess Special Hazard, Bankruptcy, Or Fraud Losses Unless Otherwise Disclosed.
Please Refer To The Prospectus Supplement For A Full Description.
(2) To determine the dollar amount per certificate, divide by the beginning
certificate balance and multiply by the denomination.
(3) Denomination is $1000 except B-IO which is 10% percentage interest and
Class R which represents an undivided interest.
INTEREST DISTRIBUTION
Payment
Current Of Previously Current Non-Supported
Accrued Deferred Unpaid Interest Interest Interest
Class Interest Interest Shortfall Shortfall Shortfall
A-1 372,089.96 0.00 0.00 0.00 0.00
A-2 198,215.18 0.00 0.00 0.00 0.00
A-3 158,903.77 0.00 0.00 0.00 0.00
A-4 72,409.00 0.00 0.00 0.00 0.00
A-5 113,539.12 0.00 0.00 0.00 0.00
B-IO 0.00 0.00 0.00 0.00 0.00
R 0.00 0.00 0.00 0.00 0.00
<FN>
(1) To determine the dollar amount per certificate, divide by the beginning
certificate balance and multiply by the denomination.
(2) Denomination is $1000 except B-IO which is 10% percentage interest and
Class R which represents an undivided interest.
INTEREST DISTRIBUTION
Remaining Ending
Cumulative Unpaid Certificate/Notional Realized Interest
Class Interest Shortfall Balance Losses (1) Distribution
A-1 0.00 65,050,054.12 0.00 372,089.96
A-2 0.00 34,126,000.00 0.00 198,215.18
A-3 0.00 26,157,000.00 0.00 158,903.77
A-4 0.00 11,433,000.00 0.00 72,409.00
A-5 0.00 17,535,000.00 0.00 113,539.12
B-IO 0.00 0.00 0.00 0.00
R 0.00 0.00 0.00 0.00
<FN>
(1) Amount Does Not Include Excess Special Hazard, Bankruptcy, Or Fraud Losses Unless Otherwise Disclosed.
Please Refer To The Prospectus Supplement For A Full Description.
(2) To determine the dollar amount per certificate, divide by the beginning
certificate balance and multiply by the denomination.
(3) Denomination is $1000 except B-IO which is 10% percentage interest and
Class R which represents an undivided interest.
PREPAYMENT INTEREST SHORTFALL
Total Prepayment Interest Shortfall 0.00
Servicing Fee Support 0.00
Non-Supported Prepayment Interest Shortfall 0.00
SERVICING FEES
Gross Servicing Fee 65,152.47
Trustee Fee 2,112.41
Supported Prepayment/Curtailment Interest Shortfall 0.00
Net Servicing Fees 67,264.88
SERVICER ADVANCES
Beginning Balance 0.00
Current Period Advances By Servicer 0.00
Reimbursement of Advances 0.00
Ending Cumulative Advances 0.00
DELINQUENCY STATUS
Current Unpaid
Number of Number Of Principal
Days Loans Balance
30 Days 59 2,981,076.90
60 Days 8 354,099.04
90+ Days 0 0.00
Foreclosure 0 0.00
REO 0 0.00
Totals 67 3,335,175.94
ADDITIONAL DELINQUENCY STATUS INFORMATION
Principal Balance of Contaminated Properties 0.00
Periodic Advance 1,487,200.30
Current Period Realized Loss - Includes Interest Shortfall 0.00
Cumulative Realized Losses - Includes Interest Shortfall 0.00
COLLATERAL STATEMENT
Collateral Description Mixed Fixed
Weighted Average Gross Coupon 10.520534%
Weighted Average Net Coupon 10.0042838%
Weighted Average Maturity (Stepdown Calculation) 194 Months
Beginning Scheduled Collateral Loan Count 2,875
Number of Loans Paid in Full 27
Ending Scheduled Collateral Loan Count 2,848
Distributable Excess Spread 371,556.35
Aggregate Loan Balance 155,044,952.19
O/C Reduction Amount 0.00
O/C Amount 743,898.07
Specified O/C Amount 750,000.00
Excess O/C Amount 0.00
Excess Spread 371,556.35
Monthly P&I Constant 1,595,133.92
OTHER ACCOUNTS
Account Beginning Current Period Current Period Ending
Type Balance Withdrawals Deposits Balance
Financial Guaranty 0.00 0.00 16,899.31 0.00
Excess Spread Account 0.00 0.00 0.00 0.00